Private Advisor Group LLC Sells 39,951 Shares of Tortoise Energy Infrastructure Corporation $TYG

Private Advisor Group LLC reduced its holdings in Tortoise Energy Infrastructure Corporation (NYSE:TYG) by 76.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 12,469 shares of the financial services provider’s stock after selling 39,951 shares during the quarter. Private Advisor Group LLC’s holdings in Tortoise Energy Infrastructure were worth $622,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TYG. Parkside Financial Bank & Trust boosted its stake in shares of Tortoise Energy Infrastructure by 42.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,000 shares of the financial services provider’s stock worth $41,000 after buying an additional 300 shares during the last quarter. Comerica Bank increased its position in shares of Tortoise Energy Infrastructure by 27.8% in the fourth quarter. Comerica Bank now owns 1,111 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 242 shares during the last quarter. Hartford Financial Management Inc. increased its position in shares of Tortoise Energy Infrastructure by 49.2% in the fourth quarter. Hartford Financial Management Inc. now owns 1,244 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 410 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in Tortoise Energy Infrastructure by 255.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,892 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 1,360 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in Tortoise Energy Infrastructure by 600.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,100 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 1,800 shares in the last quarter. 32.50% of the stock is owned by institutional investors.

Tortoise Energy Infrastructure Price Performance

Shares of NYSE TYG opened at $43.44 on Thursday. The stock has a 50 day moving average price of $44.06 and a 200 day moving average price of $45.81. Tortoise Energy Infrastructure Corporation has a 52 week low of $40.35 and a 52 week high of $51.18.

Tortoise Energy Infrastructure Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be paid a dividend of $0.475 per share. The ex-dividend date is Monday, August 24th. This represents a c) dividend on an annualized basis and a dividend yield of 13.1%.

Insider Activity at Tortoise Energy Infrastructure

In related news, Director Conrad S. Ciccotello acquired 4,107 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was bought at an average price of $42.24 per share, with a total value of $173,479.68. Following the acquisition, the director owned 16,225 shares in the company, valued at $685,344. This represents a 33.89% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

Tortoise Energy Infrastructure Company Profile

Tortoise Energy Infrastructure Corp. (NYSE: TYG) is a closed-end management investment company that focuses on investing in energy infrastructure companies. Organized as a business development company under the Investment Company Act of 1940, it primarily acquires and manages a diversified portfolio of debt and equity securities issued by publicly traded and private energy infrastructure businesses. The company seeks to generate current income and long-term capital appreciation through selective investments across the energy value chain.

The firm’s investment strategy emphasizes midstream infrastructure, including pipeline transportation, storage, processing facilities, and terminals.